Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    8508 Coral Way Miami, FL 33155-2336
    Back to Search
    Property profile & analytics

    8508 Coral Way, Miami, FL 33155-2336

    View on Map
    • Community centers
    • 76,202 SF
    • 19.29 lot acres
    Off-Market
    Last Sale Mar 8, 2024
    Property ID
    US18-6187331
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $24,705,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Midway Management Fire Alarm / Fire Station / Professional Services
    • Self Storage / Storage Facility

    Property Details for 8508 Coral Way

    Year built
    1968
    Construction
    CONCRETE
    Lot size
    19.29 lot acres
    Zone code
    6400:COMMERCIAL,CENTRAL
    Property type
    Community centers
    Property subtype
    Shopping centers
    APN
    30-4015-019-0030
    APU
    3040150190030

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Mar 8, 2024 — Burlington Coat Factory Warehouse C Westchester Mall Associates LLC Lease —
    Jul 5, 2017 — Westchester Mall Associates LP — Grant Deed · related $100M · Jp Morgan Chase Bk

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $21,660,000
      Current use
      INDUSTRIAL (GENERAL)
      $36,510,000
      Change: +69% Conversion: Difficult
      MEDICAL BUILDING
      $33,465,000
      Change: +55% Conversion: Difficult

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Miami
    County
    Miami-dade
    State
    Florida
    Longitude
    -80.3331
    Latitude
    25.7465
    CBSA code
    33100
    CBSA name
    MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $454,429
    $23,036,842
    $22,818,158
    $45,855,000
    -
    $23,036,842
    $22,818,158
    $45,855,000

    Comparable in this City

    • Value Estimation by Request
      99,010 SF

      5725 Bird Rd

      MINI-MALL
      5725 Bird Rd, Miami, FL 33155
      View Details
    • Value Estimation
      $8,965,000
      117,617 SF

      7725 Bird Rd

      MINI-MALL
      7725 Bird Rd, Miami, FL 33155-3546
      View Details
    • Value Estimation
      $10,315,000
      141,260 SF

      7795 Bird Rd

      MINI-MALL
      7795 Bird Rd, Miami, FL 33155-3546
      View Details
    • Value Estimation
      $1,630,000
      4,758 SF

      7359 Coral Way

      MINI-MALL
      7359 Coral Way, Miami, FL 33155-1402
      View Details
    • Value Estimation
      $1,290,000
      3,406 SF

      7390 Coral Way

      MINI-MALL
      7390 Coral Way, Miami, FL 33155-1445
      View Details
    • Value Estimation
      $1,525,000
      16,389 SF

      4000 57th Ave

      MINI-MALL
      4000 57th Ave, Miami, FL 33155-5318
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      15,115 SF

      Fully Leased Retail Center Miami

      Class A retail center in Coral Gables, 100% leased.
      4000 SW 57Th Ave, Miami, FL 33155
      View Details
    • Contact for pricing

      Air-Conditioned Warehouse/Showroom with Loft

      Vacant, air-conditioned industrial/warehouse with loft in Bird Road Arts District.
      4444 SW 71St Ave, Miami, FL 33155
      View Details
    • Contact for pricing
      7,978 SF

      Retail Property Near Coral Gables

      Retail property with high traffic count, close to Coral Gables.
      6340 Sw 40Th St, South Miami, FL 33155
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,250 SF

      Regional Shopping Center Space Available

      Regional shopping center on Bird Road near Palmetto Expressway.
      4100-6848 Bird Rd, Miami, FL 33155
      View Details
    • Contact for pricing
      2,100 SF

      Retail Space in High-Traffic Center

      Last available retail unit in a high-traffic shopping center.
      8508-8690 Bird Rd, Miami, FL 33155
      View Details
    • Contact for pricing
      4,125 SF

      Retail Space Near Ludlam Trail

      Mixed-use retail space near Bird Road Art District.
      7004 Southwest 40Th Street Rd, Miami, FL 33155
      View Details
    • Contact for pricing

      Retail Space with High Visibility

      Renovated retail space with ample parking and high foot traffic.
      8672 Bird Rd, Miami, FL 33155
      View Details
    • Contact for pricing

      Air-Conditioned Warehouse/Industrial Space Available

      Vacant, air-conditioned industrial/warehouse space in Bird Road Arts District.
      4444 SW 71St Ave, Miami, FL 33155
      View Details
    • Contact for pricing
      5,100 SF

      Retail Space with Open Layout

      Spacious retail space with high traffic and ample parking.
      6550-6578 Bird Rd, Miami, FL 33155
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    8508 Coral Way
    Miami, FL 33155-2336
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    8508 Coral Way, Miami, FL, 33155
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!